The Swedish government must pay a convicted drug dealer 33 bitcoins – 1.3 million euros. Unfortunately, during his time in prison, the cryptocurrency skyrocketed, and that is now costing the government dearly.

 

The fact that the convicted drug dealer is now suddenly a millionaire has everything to do with the fluctuating value of cryptocurrencies such as bitcoins. When the man was convicted two years ago, he possessed 36 bitcoins that he had amassed through crime. Together they were worth 115,000 euros at the time. So about 3,150 euros per bitcoin.

For prosecutor Tove Kullberg it was crystal clear what had to be done: the illegally acquired bitcoins had to be taken from him. She chose to impose the monetary value as a fine: 115,000 euros. The bitcoins would be auctioned as soon as the dealer was released, and the fine would then be paid.

Since then, the value of bitcoins has skyrocketed. For the price of 36 bitcoins, then, you only have 3 today. When the dealer was released, he only needed 3 to settle the fine and got 33 back. That would give him 1.3 million euros if he sold it right away.